Michaels Companies (NASDAQ:MIK) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other research analysts have also recently issued reports on MIK. Wells Fargo started coverage on shares of Michaels Companies in a report on Monday, April 23rd. They issued a “market perform” rating and a $20.00 target price on the stock. Deutsche Bank cut their target price on shares of Michaels Companies from $24.00 to $22.00 and set a “hold” rating on the stock in a report on Friday, March 23rd. Stephens cut their target price on shares of Michaels Companies from $30.00 to $26.00 and set an “in-line” rating on the stock in a report on Friday, March 23rd. Piper Jaffray restated a “sell” rating and issued a $18.00 target price on shares of Michaels Companies in a report on Tuesday, March 6th. Finally, Loop Capital started coverage on shares of Michaels Companies in a report on Thursday, March 1st. They issued a “hold” rating and a $25.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $24.27.

MIK stock opened at $19.29 on Thursday. The company has a market cap of $3,396.68, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.83 and a beta of 1.24. Michaels Companies has a one year low of $17.25 and a one year high of $27.87. The company has a current ratio of 1.75, a quick ratio of 0.58 and a debt-to-equity ratio of -1.79.

Michaels Companies (NASDAQ:MIK) last posted its quarterly earnings results on Thursday, March 22nd. The specialty retailer reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Michaels Companies had a negative return on equity of 24.07% and a net margin of 7.28%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. analysts anticipate that Michaels Companies will post 2.34 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Old Mutual Global Investors UK Ltd. boosted its holdings in shares of Michaels Companies by 1,714.8% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 2,316,399 shares of the specialty retailer’s stock valued at $56,033,000 after buying an additional 2,188,757 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of Michaels Companies by 1,088.0% during the 4th quarter. APG Asset Management N.V. now owns 1,212,900 shares of the specialty retailer’s stock valued at $24,434,000 after buying an additional 1,110,800 shares in the last quarter. Tyvor Capital LLC bought a new stake in shares of Michaels Companies during the 4th quarter valued at $17,759,000. Schroder Investment Management Group boosted its holdings in shares of Michaels Companies by 142.4% during the 4th quarter. Schroder Investment Management Group now owns 1,030,687 shares of the specialty retailer’s stock valued at $24,932,000 after buying an additional 605,494 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Michaels Companies by 541.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 677,619 shares of the specialty retailer’s stock valued at $16,392,000 after buying an additional 572,019 shares in the last quarter.

About Michaels Companies

The Michaels Companies, Inc (Michaels) is an arts and crafts specialty retailer in North America. The Company’s segments include Michaels-U.S., Michaels-Canada, Aaron Brothers, Pat Catan’s and Darice. As of January 28, 2017, the Company operated 1,223 Michaels retail stores in 49 states and Canada, with approximately 18,000 average square feet of selling space per store.

Analyst Recommendations for Michaels Companies (NASDAQ:MIK)

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